A poll of business travelers from four major economies commissioned by Marriott Hotels & Resorts indicates that 2010 may be shaping up as a year of transition from economic pessimism to greater confidence. More than 60% of 1,207 respondents in four countries agree that business travel is essential; 75% of Chinese plan to travel more. Key survey findings include:
• Approximately one-third of business travelers polled in the U.S. (35%), UK (33%), and Germany (33%) think their economies will improve. Another third – U.S. (36%), U.K. (37%), and Germany (35%) – believe things have leveled off economically and will stay the same. About three in 10 – U.S. (29%), U.K. (30%), and Germany (33%) – forecast their national economy will get worse. China is the exception, with 81% of responders saying their economy will improve.
• In China, only 13% fear job loss in the coming year, versus 39% in the U.K., 34% in Germany, and 29% in the U.S. Once their economies improve, 66% of business travelers in China, 51% in the U.K., 40% in the U.S., and 39% in Germany plan to seek new jobs.
• Although affected by a lack of jobs, millennials (referred to in the survey as Generation Y), ages 21-29, in the U.S. and U.K. express greater optimism about the economy than their older colleagues. Millennials in the U.S., U.K., and Germany also foresee more business trips in the coming year than their Baby Boomer counterparts.
• Most responders in all four countries say business travel gives their companies and their careers a competitive edge. More than nine in 10 agree business travel is important to achieve business goals, reaching a high of 96% among the Chinese. U.S. responders are most likely to say (82%), travel provides critical face-to-face time with clients and customers, followed by 77% in Germany, 74% in China, and 72% in the U.K.
• Business travelers predicting more travel next year: U.S. (22%), U.K. (20%), Germany (20%) and China (63%).
These are findings from “Global Business Trends in the Third Millennium”, a Marist Institute for Public Opinion poll of 1,207 business travelers in the U.S., China, Germany and the U.K. The study examines trends in the economy, business travel, career and personal goals, and generational and cultural differences.
“The findings mirror indications of the economic recovery in our hotels across the globe, where we are seeing improvement in corporate travel reflecting pent-up demand after two years of cutbacks,” said Don Semmler, executive vice president, global full-service brands for Marriott International. ““With nearly 500 hotels in 60 countries, Marriott Hotels & Resorts has tremendous insight and 50 years’ experience serving business travelers. This survey spots cultural and generational trends that endorse our continued efforts to address work-life balance on the road; spaces that facilitate work, social interaction and relaxation; and to lead in the area of environmental stewardship.”
shared by Beth Hanlin, Corporate Travel Specialist
Business travel will always hold up the foundation of the airline industry due to the fact that face-to-face conferences are preferred much more than phone conversations, in general. This keeps businessmen traveling and airplanes still working. The importance of efficient luggage helps the businessmen have a smooth trip, allowing them to keep coming back, as well.
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